The first Israeli in the NBA and now an investor, Omri Casspi, is expected to earn approximately $100 million ($60 million net) from the sale of cybersecurity company Wiz to Google for $32 billion, the largest deal in the history of Israeli high-tech.
Casspi is part of the Cyberstarts venture capital fund, which will earn about $1.3 billion from the deal. In addition to his success in the investment world, Casspi was previously selected for the 30Under30 list thanks to his impressive achievements in the NBA.
Omri Casspi will celebrate his 37th birthday this coming June, and it can already be stated with certainty that he is not only one of Israel's greatest basketball players but also a successful businessman. Just this week, it was reported that the exit of WIZ, in which Casspi was involved, became the largest Israeli exit in history, when it was sold to Google for $32 billion.
The Cyberstarts venture capital fund, headed by Gili Raanan, owner of Hapoel Tel Aviv, was among the first investors in WIZ, and Casspi joined it and generated significant profit from the sale. The fund holds 4% of the company, which is now valued at $1.3 billion, which is expected to bring Casspi a profit estimated at about $100 million ($60 million net), as reported in "Israel Hayom."
During his NBA career, Casspi earned approximately $18 million over 11 seasons, with his highest annual salary in the 2016/17 season, when he earned $3.12 million. Casspi always knew how to invest his money wisely, and in 2011 he began advertising for Unilever/Telma, with the campaign valued at about 8 million shekels. He continued with smart investments and years later became a partner in companies such as DAY TWO, a nutrition startup, and earned hundreds of thousands of shekels from his investments.
Despite the big money he made in the NBA, most of Casspi's profits come from his smart investments. In 2019, Casspi invested in a cannabis industry venture, where he earned particularly high sums. In 2022, he established the "SHEVA" venture capital fund, which invests in startup companies worldwide. Last year, Casspi's investment fund, in partnership with NBA star Steph Curry's fund, led a fundraising round for the Israeli cyber company Upwind.
Since October 7, Casspi has been taking an active role in representing Israel globally. He has also donated large sums to charity funds and organizations in Israel. Additionally, Casspi completed a fundraising round for a seed fund called "Swish Ventures" in the amount of $60 million, which directs its investments to companies in markets such as cybersecurity, infrastructure, cloud, and artificial intelligence. The fund invests amounts of $5-7 million in each deal. The current fundraising increased the value of assets under Casspi's management to $125 million.
Among the companies in Casspi's portfolio are companies like Upwind, EON, and PointFive, which have achieved impressive market values. Currently, Casspi's wealth is estimated at about $100 million, and it now appears that he may continue his business career in an even more impressive manner than his career on the court.
Photo: Forbes Israel
